Deals of the day- Mergers and acquisitions

July 23 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 0930 GMT on
Wednesday:

** Medium-sized lender Philippine Bank of Communications
said on Wednesday that businessman-retailer Lucio Co
would buy more than a third of the bank for nearly 6 billion
pesos ($139 million), the latest in a wave of mergers and
acquisitions in the local banking sector.

** Japan's Itochu Corp and Sumitomo Corp
want to sell their stakes in two Australian coal mines and a
coal terminal they co-own with Glencore Plc, two people
familiar with the matter said on Wednesday.

** State-backed British lender Royal Bank of Scotland
is considering selling its Irish unit Ulster Bank to a
private equity firm, the Irish Examiner reported on Wednesday,
citing unnamed sources.

** Polish cable operator Vectra said on Wednesday that it
had increased its bid for a 33 percent stake in
telecommunication company Netia to 5.41 zlotys ($1.76)
per share.
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